Asset Finance

Our asset finance loan facility is designed to enable you to acquire moveable assets with ease. With this product, you can acquire an asset and use it as security for the facility. This product targets corporate customers, institutional customers, SME customers and individuals.

Our documentation is simple, straightforward and there are no hidden costs. The level of finance we grant allows you or your business to continue operation unhindered. In most cases this product will allow you to purchase vehicles, plants and equipment. We are also able to offer structured leasing solutions which enable you to make use of assets without having them on your balance sheet.

Deposit (Customer contribution)From 10% of the total cost of the vehicles – New vehicles, and 20% for 2nd hand vehicles, 30% for tractors.NOTE: For 2nd hand vehicles – ( calculated on either the valuation or the total cost – whichever is lower).Subject to credit appraisal.

Interest Rate: Currently 14% p.a – Reducing balance. Note : Rates are reviewed from time to time depending on market trends.

Repayment PeriodMaximum 5 Years for New VehiclesMaximum 4 Years for 2nd hand VehiclesMaximum 3 Years for Equipment and Machinery

Termly payment option for Schools is available

Insurance -Comprehensive- Through our approved underwriters, with Bank’s interest noted on the policy

Registration –The vehicle will be jointly registered/Transferred (Customer name and the Bank)